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Think Wyoming No. 1 Business Friendly Tax Climate Tax Foundation (2014, 2015) Think Wyoming Think about all the State of Wyoming has to offer yoming is rich in credit rating year in and year out. 24/7 natural resources and Wall Street calls Wyoming the Second W American West heritage. Best Run State in the Country. And Its landscape is as varied as its energy counter to these often acrimonious resources. Windswept prairies and political times, a Gallup poll ranks flat croplands yield to large expanses Wyoming No. 2 for Highest Rate of of sagebrush steppe and majestic Trust in State Government (76 percent). mountains. World-class destinations such as Yellowstone National Park and Wyoming government’s polished open spaces are enjoyed by residents, business practices spill over to its businesses and visitors alike. favorable business climate. The Pollina Corporate Top 10 Pro-Business States That’s only half the story. report ranks Wyoming No. 2. Wyoming consistently receives high There are no state income and inventory marks for state management and deep taxes in Wyoming. Sales and property financial reserves, which, in turn, provides taxes are low, as are operating costs. business owners a reliable, collaborative environment in which to work. Wyoming’s open-door access to legislators and the Governor is especially The Wyoming Legislature is statutorily attractive to startup companies in required to maintain a balanced budget highly regulated industries. This access, and the state has an approximately $16 coupled with numerous grant, loan billion savings. Solidly in the black, and incentive programs, provides Above L&H Industrial employees perform Wyoming is able to invest in education businesses with key financial resources. and infrastructure critical to public precision manufacturing and repair and private business needs. Wyoming Thinking about expanding, relocating work on heavy industrial equipment. maintains a Standard and Poor’s AAA or investing? Think Wyoming. 2 | Think Wyoming Cheyenne, Wyo. Wyoming Facts Population: 584,153 (2014) Size: 97,814 square miles (253,348 kilometers) Capital: Cheyenne Wyoming’s Future Governor: Matthew H. Mead Wyoming hosts many world-class companies committed to producing President of the Senate: our world-class energy products. Wyoming has the infrastructure and Phil Nicholas labor force capable of exporting minerals around the world. Speaker of the House: Kermit Brown Our Goals • Develop long-term energy and investment relationships for the next 50 to 100 years. • We are committed to working with our foreign partners and ask for your long- term help. • We pledge support in providing clean Wyoming State Capitol energy to improve the quality of life and Cheyenne environment across the globe. Think Wyoming | 3 World-Class Tourist Destination • Teton Mountain Range • Yellowstone National Park • Devils Tower • National Forests • Hunting, fishing and outdoor recreation opportunities 4 | Think Wyoming Wyoming Billions in Savings Energy & • Permanent Wyoming Mineral Trust Fund Mining is an inviolate fund • Funded for future generations from Production constitutional, statutory and direct appropriations • Invested in equities which tend to provide #1 state in coal higher returns when energy prices are low production and economic reserves • Only interest, dividends and realized capital gains are available for expenditure #1 state in uranium production and economic reserves #1 state in trona production and economic reserves #1 state in bentonite production and economic reserves #2 state in rare earth minerals Permanent Wyoming Mineral #2 state in Trust Fund Growth helium production $7,000,000,000 #5 state in natural $6,000,000,000 gas production $5,000,000,000 #8 state in oil $4,000,000,000 production $3,000,000,000 #12 state in $2,000,000,000 wind generation $1,000,000,000 and #1 in on-shore, $0 high-capacity wind resources Fiscal Year Think Wyoming | 5 Top 10 Energy-producing States Onshore Energy Production 1. Texas 2. Wyoming 3. Pennsylvania 4. Louisiana 5. West Virginia 6. Oklahoma 7. Colorado 8. Illinois 9. Kentucky 10. California Alaska, 4% Arkansas, 2% Colorado, 6% Net State Kentucky, 2% Exports Montana, 3% New Mexico, 7% of Energy Wyoming 38% • Only 13 states produce more North Dakota, energy than they 7% consume. • Wyoming accounts Oklahoma, 6% for 38% of the net exports, including Pennsylvania, interstate exports. 5% Texas, 8% West Virginia, 13% Utah, 1% 6 | Think Wyoming Wyoming Compared to the World Energy Production minus Consumption 1. Russia 2. Saudi Arabia 3. Wyoming 4. Indonesia 5. Norway 6. Iran 7. Australia 8. Qatar 9. Algeria 10. Nigeria Our extractive industries produce low-cost raw minerals and energy for the world. Wyoming Leading the Charge • Wyoming produces more energy • None of these statistics account than the lowest-ranking for uranium mined in Wyoming, 28 states combined. the leading producer of uranium in the U.S. • Wyoming oil, gas and coal production account for more than • Energy and mineral production is 12 percent of total U.S. energy vital to Wyoming’s economy and production. employment. • Although Texas produces more • If Wyoming were its own country, energy than Wyoming, it is still a it would be the third-largest net importer of energy. Wyoming energy exporter in the world. exports 9,064 trillion BTUs. Texas net imports 1,919 trillion BTUs. Think Wyoming | 7 Coal Export Opportunities Prince Rupert Port Authority CANADA Fraser Surrey Docks Westshore Gateway Pacific Terminal Terminals Millennium Bulk Terminals Port of Morrow Existing and Proposed Ports: Approved Ports: Gateway Pacific POWDER RIVER Terminal BASIN COAL Prince Rupert Port Authority • Cherry Point, Wash. GROSS CALORIFIC • About 50 million tons per year VALUE (GCV) RANGE • 12 million tons per year • SSA Marine • 4600Kcal/Kg to 5000 TOTAL MOISTURE (ARB) Fraser Surrey Millennium Bulk • 19.5-29.3%, Avg. 22.2% Docks Terminals ASH CONTENT (ADB) • Longview, Wash. • 6.6-15.7%, Avg. 10.3% • 10 million tons per year • 44 million tons per year FIXED CARBON (ADB) • Ambre Energy Ltd., Arch Coal Inc. • 34.6% Westshore TOTAL SULPHUR (ADB) Terminals Port of Morrow • 0.2-0.3% • Boardman, Ore. • 30 million tons per year • 8 million tons per year • Ambre Energy 8 | Think Wyoming Prince Rupert Port Authority CANADA Fraser Surrey Docks Westshore Gateway Pacific Terminal Terminals Millennium Bulk Terminals Port of Morrow No. 2 Best Business Climate U.S. Chamber of Commerce Foundation (2014) Think Big Value-Added Mindset yoming is laser-focused on exploring new and innovative ways to W add values to its raw materials. Through partnerships uncommon in other states but typical for Wyoming, researchers, legislators and industries work together to unearth new technologies. Examples include: • The Hess Corporation has invested $25 million since 2013 in the University of Wyoming School of Energy Resources. The partnership is designed to research the complex rock-fluid interactions that occur in the reservoirs of unconventional plays, increase the amount of oil and gas recovered from shale reservoirs and help meet the world’s future energy needs. Hess is the single largest corporate partner in the university’s history. • Houston, Texas-based Baker Hughes Inc. has invested $1.5 million since 2012 in the School of Energy Resources. The company’s initial $500,000 donation went toward construction of the university’s High Bay Research Facility. Baker Hughes invested $1 million in 2015 to support research on unconventional oil and gas reservoirs in Wyoming. 10 | Think Wyoming Billions in Investments are Underway Several large energy projects are on the horizon in Wyoming including: • The 1,000-turbine Chokecherry and Sierra Madre Wind Energy Project to be located south of Rawlins and Sinclair in south-central Wyoming. It will be the largest wind farm in the U.S. • The TransWest Express transmission line from south of Rawlins to southern Nevada. • The Integrated Test Center at Basin Electric’s Dry Fork Station coal-fired power plant north of Gillette, Wyoming, will provide a lab for carbon-capture research. You Can Make it in Wyoming Manufacturing companies are increasingly finding Wyoming to be the place to set up shop. Wyoming manufacturing employment grew 13.5 percent between December 2009 and March 2014. The statewide average industrial power rate is 6.70 cents per kilowatt hour (kWh) (July 2015). The Mountain West regional average is 7.57 cents/kWh. Manufacturing Sales Tax Exemption The sales tax burden is exempt on the sale or lease of machinery to be used in the state of Wyoming directly and predominantly in manufacturing tangible personal property. Sales Tax Exemption on Electricity Used in Manufacturing The sales tax burden is exempt on sales of power or fuel to a person engaged in the business of manufacturing, processing or agriculture when the same is consumed directly in the manufacturing process. Positive Regulatory Support The state of Wyoming has worked hard to create a strong, efficient and sensible regulatory environment that reflects its commitment to energy and mining. In addition, many Wyoming companies take advantage of the industrial revenue bonds from the state. For more information about industrial revenue bonds, visit our website: wyomingbusiness.org. Think Wyoming | 11 Wyoming Knows Energy Wyoming has a reputation as one of the most natural resource- rich geographies in the world, and for good reason. It is the No. 1 American producer of coal, bentonite, trona (soda ash) and uranium. It ranks second